Loan Comparison: 3.41% vs 6.5%
6012 Jay, Arvada, CO 80003 · 2bd/2ba · $365,000
List Price
$365,000
Assumable Rate
3.41%
Remaining Balance
$94,003
Equity Gap
$270,997
Loan Type
FHAAdjust Your Scenario
$18,250
$18,250$270,997
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.41% (FHA)
Blended Rate: 7.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 3.41% + gap loan
$2,361/moAssumed loan: $417/mo
Gap financing: $1,943/mo
Your Savings on This Property
6012 Jay, Arvada · 3.41% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($270,997) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($252,747 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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